European Stock Markets Steady After Strong Gains

Europe's main stock markets steadied on Tuesday following strong gains the previous session, as investors digested news that German business confidence dipped slightly below last month's record high

London, (UrduPoint / Pakistan Point News - 19th Dec, 2017 ) :Europe's main stock markets steadied on Tuesday following strong gains the previous session, as investors digested news that German business confidence dipped slightly below last month's record high.

In late morning trades, London's benchmark FTSE 100 was up 0.2 percent compared with the close on Monday. In the eurozone, Frankfurt's DAX 30 index was flat and the Paris CAC 40 dipped 0.1 percent.

Leading indices in the single-currency area had risen by around 1.5 percent on Monday as US President Donald Trump's tax-cutting plans moved a step closer.

On Tuesday in Germany, Europe's top economy, the Ifo economic institute revealed that its business climate index hit 117.2 points in December, slightly below November's historic 117.5.

It comes as Germany remains mired in a political stalemate, with Chancellor Angela Merkel still trying to form a new government after coalition talks collapsed last month. Most Asian stock markets extended gains Tuesday, taking a lead from fresh record-highs overnight on Wall Street where a long-awaited tax-cut bill is expected to be passed this week.